NAIROBI: Kenya will receive Sh321 billion (€3 billion) from the European Union (EU) to finance mega projects under the Vision 2030. EU acting head of delegation Marjaana Sall said the money would be committed to support projects outlined in the Vision’s Medium Term Plan II for the 2013-2017 period.
Targeted sectors of the economy to benefit from the fund include agriculture, rural development and Arid and Semi-Arid areas (ASALs), energy and transport, democracy and governance, justice and the rule of law, and water and sanitation. The money, Ms Sall said, would be committed under the Joint Programme Strategy between Kenya and the European economic unit.
“EU partners can now work together in the identification of priority areas to support and jointly define the way in which this support will be rolled out, also building upon synergies and exploring joint implementation modalities,” Ms Sall said during the European Day (Schuman Day) celebrations.
Due to inadequate budgetary allocation, Government is seeking support from donors to finance multi-billion-shilling Vision 2030 flagship projects, for example, the Sh1.2 trillion Standard Gauge Railway line and Sh130 billion -700 megawatts Liquefied Natural Gas (LNG) factory at the Coast.
Other projects include the Sh24.6 billion laptops plan for Standard One pupils and the Sh400 billion one million-acre Galana/Kulalu irrigation projects and the Lamu Port Southern Sudan-Ethiopia Transport (Lapsset) Corridor project.
Last year, Kenya hosted an investment conference at Kenyatta International Convention Centre, where it got an opportunity to present to local and international investors projects worth more than Sh700 trillion.
Further, for the last two years, investors from UK, France, Sweden, US, Japan among other developed countries have been camping in the country to scout for investment opportunities.
